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AUD/USD Price Forecast: Tests 0.7000 support as 14-day RSI suggests overbought conditions
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FXStreet Forex & Commodities News
Daily chart analysis indicates that the pair is remaining within the ascending channel pattern, indicating a persistent bullish bias.
The AUD/USD pair stands firmly above the rising nine-day Exponential Moving Average (EMA) and the 50-day EMA, underscoring a persistent bullish bias.
The AUD/USD pair could test the 0.7094, the highest level since February 2023, which was recorded on January 29.
Further advances would support the pair to test the upper boundary of the ascending channel around 0.7140.
On the downside, the primary support lies at confluence around the lower ascending channel boundary at the nine-day EMA of 0.6931.